Scoop: Meta invested in social gaming company Playco

Facebook parent company Meta invested $40 million earlier this year in Japanese mobile gaming company Playco, Axios has learned. for the first time ever last quarter, but Meta's apps remain some of the largest social networks on the internet. That's meaningful to a company like Playco, which wants to be on as many popular platforms as possible.

The deal also reunited two old friends — Facebook and Justin Waldron, co-founder of Playco and Zynga. The latter company's FarmVille game rose to mega popularity as one of the first to be built within the social network. Playco, founded in 2020 by Waldron, Game Closure co-founder Michael Carter, and game producers Takeshi Otsuka and Teddy Cross, bills itself as an "instant gaming" company.round at a valuation just north of $1 billion co-led by Sequoia Capital and Josh Buckley.

"It’s designed to play quickly while waiting for others to join a work meeting, as an icebreaker with fresh faces, and even to deepen relationships with lifelong best friends,"

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